The intersection of family business and audit research: Potential opportunities
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Previous research has illustrated the importance of family businesses and significant differences between family and nonfamily businesses. Such differences will likely affect auditing for family versus nonfamily businesses. The authors emphasize experimental research labeled as 'audit judgment and decision making research.' They argue that some aspects of people, tasks, and environment are different between family and nonfamily businesses and that these differences affect auditor judgments. A range of theoretical frameworks applicable to auditing research related to family businesses are considered. The authors suggest potential research opportunities related to auditor judgments, auditor-client negotiations, the demand for auditing, audit quality, corporate governance, and internal audit.
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